If you have a real estate book that you would like to submit for consideration, please send it to:

Att: Melissa Dittmann Tracey
The Weekly Book Scan
REALTOR Magazine
430 N. Michigan Ave.
Chicago, IL 60611

If you would like to recommend a book for us to review on the blog, send your recommendations to mtracey@realtors.org.

Thanks for reading and we look forward to soon providing you with a better place to connect about real estate books!

Quick Skim
The micro blogging site Twitter has generated plenty of buzz lately and all from the simple question: "What are you doing now?" Those who use the site have 140 characters or less to respond to the question. Members "follow" other members, and vice-versa, to stay up-to-date on what everyone is doing. Many real estate pros have jumped on the Twitter bandwagon, using it as a way to connect with clients. In the book Twitter Power (Wiley, 2009), authors Joel Comm and Ken Burge show how individuals and organizations can use it as a marketing tool and how such short "tweets" can even land new business.
                  Buy the Book

From the Book: 5 Ways to Use Twitter for Business

When you use Twitter for business reasons, you want to "blend in" and make sure your messages don't come across as blatant sales pitches, or you could face a backlash from followers, the authors write. Your goal for using Twitter should be to make your business stand out and turn your customers into a community.

"Your Twitter timeline is not a sales page," Comm and Burge write. "Gripping headlines and hard call-to-actions on Twitter are more likely to drive people away than drive them to buy. Your Tweets need to be subtle. They have to build interest and trust. Only then will your followers feel that doing what you want them to do will be worth their while. "

Here are five tips from the book on using Twitter for business.

1. Make yourself personable. You want your messages, or "tweets," to be written in a laid-back tone that creates the impression that you're chatting with others. "Businesses that tweet like a corporate executive addressing a board meeting will … scream that they have no idea what they're doing—or who they're talking to," the authors write.

To help make your Twitter account more personable, use a photo or an icon that represents your business instead of your company's logo as your Twitter image. For example, Southwest Airlines uses an image of its planes' tail and the sky as its background; Comcast's Twitter.com/comcastcares uses a human face and tweets in an informal, friendly tone.

2. Give your tweet the "who cares?" test. If you just repainted your office or grabbed a donut on your way to the kitchen, should you really tweet about it? You'll read a lot of random thoughts from Twitterers, but if you're using it to land new business, think before you tweet.

"News announcements that affect the reader are always going to be the most interesting," the authors write. "The best way to handle news for branding, then, is to mix it in with other kinds of content and to add a personal comment so that it sounds like its coming from a real person, not from a company. "

If you're tweeting on behalf of a company, keep it human, but not too personal, the authors write. And if you're tweeting on behalf of a personal brand, you might include random thoughts

3. Build a following. Once you're using Twitter, of course, you'll want others to be reading and responding to your messages. So how can you build a strong following? Simply, start following others. Reciprocal following is like good manners in the Twitter universe so those who you follow will likely start following you. Follow the major Twitterers and reply to their tweets with interesting, valuable information. Others will notice your comments and reciprocate.

4. Find who's talking about you and your business. You might want to reply to others who appear to have an interest in your topic. Try using Twellow (the site allows you to find who's talking about what in a field or topic) or use TweetBeep (to receive alerts for keywords you set). You might want to use these sites so you receive alerts for mentions of your business name, blog, Twitter name, or topics such as "real estate" or "short sales."

5. Know your audience. Offer advice and solutions to Twitterers who pose questions or are struggling with something in your field of expertise. This also helps you build a core group of followers. If you have a real estate blog, you might want to use Twitter to provide quick notices about upcoming blog posts and what you're working on. Include links to your blog or Web site where your followers can read more. Just watch out for linking overload: If you want to increase the odds that your followers will click on a link that you offer on Twitter, make sure to limit links in your tweets so they don't suffer from click fatigue.

Try to tweet at least once a day—and ideally, more often that that—if you're using it as a branding tool so you'll build community and develop momentum, the authors suggest.

Sneak Peek

"What on Earth can you put in 140 characters that could possibly be worth reading? Surely you can't promote products, build a brand, generate interest in your company, and keep people reading with such small amounts of content? The answers it turns out, are ‘a lot’ and ‘yes, you really can!’ Twitter has proven itself to be incredibly addictive and, for business owners, very valuable too.

“Ever since I stumbled onto Twitter, I've spent many hours thumb-typing messages. I do it frequently and I love it. It's fantastic fun, like writing a personal blog but without the effort. The pleasure alone would be enough reason for me to recommend Twitter, but Twitter isn't just good fun. It's also proven to be a very important and easy way of finding new users and customers, a powerful networking tool, and an excellent way of picking up useful information.

“It 's helped me to build deeper relationships with my partners, my clients, and other entrepreneurs. It's extended the reach of my brand, making the name of my business known to people who might never otherwise have heard of it. It's brought me advice and suggestions from experts I couldn't have reached any other way. It brings me a steady stream of additional Web site users and provides a channel for me to alert people who have visited my sites when I've uploaded new content. And it's brought me some fascinating reading and a bunch of wonderful new friends, too."

About the Authors

Twitter guru Joel Comm (@joelcomm) is a speaker on Internet marketing and business. He is also the author of The AdSense Code (Morgan James Publishing, 2006) and Click Here to Order (Morgan James Publishing, 2008).

Co-author Ken Burge (@KenBurge) is president of InfoMedia Inc. and also an expert on online marketing. He is an eight-year veteran of Microsoft.

Try it Out: Follow REALTOR® Magazine on Twitter

The Weekly Book Scan catches up with writers Donna Fleetwood and Christy Crouch to talk about their new book Now What Do I Say? Never Be at a Loss for Words Again (BookSurge Publishing, 2008). In case you missed it, be sure to check out a mini review of the book posted last week on the blog.

How did you develop the dialogues for this book?

Fleetwood: We intended this to be a reference manual for real estate agents who are wanting to study different ways to handle objections. Christy and I have studied neuro-linguistic programming objection handling for quite a number of years in an intense way. We would write 10 sentences a day for different objections, and we did this for years. With our other partner, Scott Friedman, we decided there was no other book on the market like this. It can be a reference manual for agents to use, carry around with them in their car or in their office, that they could practice or actually reference when they are talking to somebody.

Crouch: It seems like when we get those questions and objections, it can sometimes freeze us and it’s kind of scary. But we found from studying it, that there aren’t all that many new objections. The clients are having the same objections over and over. If we just learn how to powerfully handle them, in a way that benefits the client and sets the agent apart, it would be a great tool for them to have and be able to refer back to.

Fleetwood: One of the things Christy and I truly believe is to align with the client and not to fight with them. Not to try to prove how much we know, but rather use language in a way that brings the two parties together.

I noticed in the book that asking questions of the client was a common way of handling objections in your scenarios. Could you explain a little bit about the importance of asking questions?

Crouch: I think the more questions we can ask our clients, the better position we’ll be able to be in to actually help them with exactly what they’re looking to accomplish. We've learned that the client ultimately cares about getting what they need and having us help them. The more questions you ask, the more you can find out exactly how you can help them.

Fleetwood: I think there are two things: When you’re asking questions, the client feels heard. And, it is also a way for agents to gather their own thoughts. If you’re like a deer caught in headlights, all you have to do is ask a question.

You say objections only come from those who are truly considering doing business. Could you explain why that is?

Crouch: When we get those questions and objections, it’s scary. Especially if you’re not prepared with an answer and to be able to powerfully present it. We found that if you go into

Have you needed to change your technique at all in this market?

Crouch: The objections definitely haven’t changed no matter what the market conditions are; there are just more of them now.

Fleetwood: People are generally more fearful that somebody is going to take advantage of them, or they’re going to spend too much on commission, or whether their house is going to sell.

Crouch: The consumer is also more educated nowadays about what questions to ask, about what the media is telling them and about what they’re reading. So you tend to get more objections.

Could you explain more about neuro-linguistic programming objection handling and how you got into this field?

Fleetwood: As it applies to real estate and objection handling, we’re looking to shift or point the client’s attention to where we want to go. We’re shifting them out of fear with our language.

Crouch: The language that we use helps us to help the client have a much better experience, I think. It’s very overwhelming to the consumer. In most cases it’s their biggest investment. How you communicate to them makes a big difference.

Fleetwood: One of the things I learned from neuro-linguistic programming is that my job in real estate is to bring meaning into people’s lives. It’s not actually about the house sale. We’re finding them the perfect house where they’re going to raise their family; where they’re going to sit around the dining table for their holiday meals; or even someone who just needs to move on. The core essence of what we do is bring meaning to people’s lives, and we do that through language many times. When I first started in the business, I used to vomit my objection handlers. Before I had this context of bringing meaning to people’s lives, I would just blah, blah, blah – there’s a disconnect when you do that. When you can start practicing and handling objections in ways that are meaningful to people, that’s when everything shifts.

What was the audience you envisioned when you wrote this book?

Fleetwood: We envisioned this book could be for all agents, whether they’re just starting out in the field, or whether they’re seasoned agents. Even Christy and I, we have been in the business a long time, and we still practice these objection handlers and still try to keep are skills really sharp.

With three authors, what was your working pattern like writing the book?

Crouch: A lot of role play.

Fleetwood: As a matter of fact we have the book on tape, as well. [Available through their Web site www.yourethedifference.com.]

Crouch: It's beneficial to hear someone say it, especially with the NLP language. How to say it is critical in how your clients will receive it. You want to pause and put emphasis on different words.

What would you say is the one part of your book readers would get the most out of?

Fleetwood: What I think is so unique about the book is that readers can see how there are so many ways to handle an objection. We give at least three objection handlers for each objection. I think that’s one of the great things about our book, there’s not just one way to do it.

Crouch: Scott, Donna, and myself all have different personalities and different ways of doing it. Having that really allows many types of agents to benefit from the book, and their clients. A lot of times the objection handler that you use would depend on the type of client.

Fleetwood: Honestly, handling objections is one of my favorite parts of my job. I love being in that space where the objection comes up and we can word toward a common solution.

Quick skim
Handling objections is all part of the job. Authors Donna Fleetwood, Christy Crouch and Scott Friedman wrote Now What Do I Say? Never Be At a Loss for Words Again (BookSurge Publishing, 2008) to help real estate pros handle any objection that comes their way. Using communication methods derived from neuro-linguistic programming, which considers the impact language has on people and their behavior, the authors offer more than 425 answers to more than 70 common real estate questions and objections. Written in dialogue style, the book can serve as a quick reference, recited aloud, or used in role playing.
           Buy the Book

From the Book: 5 Ways to Handle Customer Objections

1. There’s more than one right way. Different personalities call for different approaches to an objection. A single answer may suit one client, while turning another off. That’s why the authors offer multiple approaches to every potential objection listed in “Now What Do I Say?”

For example, you might respond to a client who complains that they have not received an offer on their home with the following remark (if the client does well with direct answers): “Exactly! This means they think it’s so overpriced they won’t even waste their time with an offer. So, do you want buyers to make offers, or move on?”

Or, you could use an approach that is suggestive, but solicits more client input: “You’re right! Now, imagine you were at an auction house and the whole audience was silent. No one was bidding on the item for sale at all. The auctioneer would either have to lower the price on the item, or risk not selling it. Which do you want to do?”

2. Practice makes perfect. Take the time to practice objection handlers aloud. Read from the dialogue in the book to yourself or role-play with co-workers. Practice helps boost confidence and alleviates nerves. Since objections are a natural part of the job, practicing how to handle them only makes sense.

You might want to rehearse how you would respond to a person who says they already have an agent in mind. The authors suggest: “You already have an agent in mind? That’s great, and I want you to set an appointment with me so I can give you a second opinion on everything to ensure that you are making the very best decision possible. A second opinion never hurts, does it? Great! I can stop by today or tomorrow at four. Which works best for you?”

3. Focus on your clients. Instead of spending all your time and energy coming up with responses on the fly, think about your clients beforehand—what they might say and questions they might ask—then review potential responses. For instance, if a potential client says, “If we don’t sell it, we’ll rent it.”

Come back with: “Stop and think about what it will mean to rent the house out. You might get

4. Never tell a lie. “Skills are critical in this market to prosper,” Fleetwood writes. Anyone willing to invest time in his education will be compensated. Learn your market and objections can be handled with greater ease. Your clients will never believe you if you don’t believe yourself.

Example: If a potential client says they can do the same things you can do, try a response like this tailored with information about you and your area:

“I can see your point when you consider what most agents do to sell homes. I’m curious, are you familiar with my system for selling homes? What would be the best time to show you? Statistics show that agents in our area only sell two homes per year, on average, and I’ve already sold 20 homes so far. So that proves I have something a little different to offer, don’t you agree?”

5. You’re for them, not against them. The authors make it clear in their book: It is a mistake to argue with your clients. Acknowledge their objection while letting them know you’re on their side. Always make sure they feel heard.

Example: Client: “We want to cancel the listing.”

You: “First of all, let me apologize that you are to this point of frustration. One thing this market is teaching us is patience. You have seen the advertising, you have all the feedback from the showings, and I want you to know that I am frustrated right along with you. Let me ask you, do you still want the house to sell? Of course you do. So, let’s look at what the competition is doing and make a decision. Will you agree to that?”

Sneak Peak

"People like people who are like themselves. Immediately look people in the eye if you are in person, watch their body language and put your focus on them instead of yourself. The more you align and build rapport with your clients, the better chance you have of them choosing you over your competition."

About the Authors

Donna Fleetwood has been selling homes for more than 20 years. Trained in neuro-linguistic programming, Fleetwood has honed her communication skills to handle a variety of objections. She is a working real estate professional in Harrisburg, Penn., where she has consistently sells more than 1,000 homes a year.

Christy Crouch, a 19-year industry veteran, met Fleetwood while she too trained in neuro-linguistic programming. Crouch runs the Crouch Team real estate company in Roanoke, Va., and is in the top 5 percent of her market. For the past eight years she has had average sales of 100 homes per year. Crouch co-founded You’re The Difference with Scott Friedman, offering sales training and life coaching.

Scott Friedman, a New Jersey native, was a top selling real estate professional in his market for eight years before becoming a professional speaker and life coach. Co-founder of You’re The Difference with Christy Crouch, Friedman coaches top salespeople and executives. He is considered “a master of objection handlers.”

1. The Great Depression Ahead: How to Prosper in the Crash Following the Greatest Boom in History, By Harry S. Dent

2. Home Buying For Dummies, 3rd edition, By Eric Tyson and Ray Brown

3. SHIFT: How Top Real Estate Agents Tackle Tough Times , By Gary Keller, Dave Jenks and Jay Papasan

4. Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss, By Ken McElroy

5. Every Landlord's Tax Deduction Guide, By Stephen Fishman

6. The Pre-Foreclosure Property Investor's Kit: How to Make Money Buying Distressed Real Estate -- Before the Public Auction, By Thomas Lucier

7. The Subprime Solution: How Today's Global Financial Crisis Happened, and What to Do about It , By Robert J. Shiller

8. The Millionaire Real Estate Agent: It's Not About the Money...It's About Being the Best You Can Be!, By Gary Keller, Dave Jenks, and Jay Papasan

9. Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis, By Mark Zandi

10. The Great Depression Ahead: How to Prosper in the Crash That Follows the Greatest Boom in History, (audio version) By Harry S. Dent

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2009/02/top_10_real_estate_books_feb_9.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2009/02/top_10_real_estate_books_feb_9.html Mon, 09 Feb 2009 10:01:31 -0500 By Erica Christoffer

How are you on the telephone? Real estate professionals use the telephone practically every day to reach out to clients and prospects. Sales coach and author Dirk Zeller wrote a book, Telephone Sales for Dummies, on how you can improve your telephone skills (read a mini book review and get 5 tips to improve your phone presence). The Weekly Book Scan spoke with Zeller recently to get more insights.

What motivated you to write Telephone Sales for Dummies?

ZELLER: I saw a real need for skill building in the telephone sales arena. To me, if anybody is a sales person, they have to use the phone. The phone is still one of the most important mediums of communication in this world. Especially for sales people, because in selling you have to inject emotion, you have to inject energy, you have to inject enthusiasm, you have to inject assertiveness, confidence and conviction. That’s pretty hard to do in an e-mail. E-mail is a communication method that functionally doesn’t translate into selling very well. You’re basically using words on a page that communicate at 7 percent efficiency.

A number of studies have been done on what communication is and how communication is broken down. Seven percent of communication is the words, 38 percent of communication is the tonality, 55 percent is body language. You don’t have tonality or body language engaged in words on a printed page.

But do you think electronic communication – e-mail, text messaging, etc. – has overtaken the telephone in many workplaces?

ZELLER: I think it’s a more universally used method of communication – e-mail and text, but it is not as effective in selling.

What would you say are three bad habits real estate agents do while prospecting on the telephone?

ZELLER: I think the biggest mistake real estate agents make in terms of calling a prospect or a potential prospect is winging it. They haven’t planned out what they’re going to say. They don’t have good quality scripts and dialogues to deliver from. They haven’t practiced those scripts and dialogues. They don’t have a great opening statement that is compelling and draws the prospect in. I got a sales call last night whose opening statement—which in my view is the worst in the history of the planet—was “How are you today?”

You say in your book a sales person has 7 seconds to grab the attention of their prospect on the phone. What advice would you give a sales person to when formulating an introduction?

ZELLER: What’s important to the client? That’s the first and foremost element they

For example, if you’re calling an expired, you have to have an opening that connects with that expired, that solves a problem that they have or gives them the impression that you can solve an inherent problem, which is, "The marketplace is challenging; I didn’t get my home sold." You have to get across to them that there is a better way and there is a solution. Just because their home didn’t sell, doesn’t mean their home won’t sell. Or, if it’s a buyer, you have to get across to them that now is a tremendous time to buy.

You mention the importance of research. What sort of research would you recommend real estate pros do before they get on the phone and reach out to both buyers and sellers?

ZELLER: They have to have a greater understanding of the current and emerging market trends. What’s the inventory of available homes? What’s the absorption rate in terms of the marketplace? What’s the competition level? What’s the average list price? They have to know the different price points of the marketplace. They have to have a greater understanding. Let me give NAR a plug. They have to read, study, and understand some of the reports [NAR] produces.
You won’t get face-to-face if you’re not good on the phone. The first point of contact is generally over the phone, or at least the first point of actual sales contact where you can create a sales relationship or book an appointment.

What can veteran salespeople take away from the book?

ZELLER: It will give them a structure and a strategy to use and a system they could put in place. Even if they are skillful, I would contend that most of them do not have a system. They’ve learned through osmosis. And now the marketplace has changed and what they did before is probably not as effective. But they don’t know why it’s not working as well as it did before. Some of it is marketplace influence; some of it is system influence.

What is your personal system when you make sales calls?

ZELLER: My approach is obviously different today because I’m approaching brokers, large companies, and executives. My sale today is a business-to-business sale as opposed to a business-to-consumer sale. But if I were an Agent today, one of the things I would be focused on in any phone call is, "What is the objective of the call?" What’s the action that I’m trying to get this prospect to do? For me, the objective is you’re trying to book an appointment. You have more control in your office, so the objective is trying to get them to come into your office. If you can’t get face-to-face in your office, the secondary objective is trying to get face-to-face at a neutral site. I’m trying to get the prospect to take action.

If I can’t get face-to-face at a neutral site, my third objective is to get face-to-face at a home. If you can’t get face-to-face at the office, at a neutral site or at their home, then I finally will go for a face-to-face at the subject property that they called about or are interested in. But most agents go straight to No. 4. They’re so thrilled that they got someone that they’re talking to, that they’re willing to go to a lower-level quality to secure that prospect. Then they’re being like every other agent.

How can real estate practitioners improve their listening skills on the phone?

ZELLER: Listening is a natural outcome to asking questions. So if agents have better formulated questions or a series of questions that they use on a strategic basis, they’re going to be automatically better at listening. They’re functionally punting the dialogue to the prospect. To me, that’s the greatest opportunity to enhance listening, is to have well-formulated questions in advance.

When I was selling real estate, I had all my questions tacked on the wall. I stood there, headset on, computer screen in front of me, calling. I had a track, or a series of questions, that I was constantly asking based on the type of prospecting I was doing.

In the book, you also dedicated a chapter to conquering sales call aversion. Have you ever been overcome by this and can it be avoided?

ZELLER: Everybody gets sales call aversion at some point in time. Even very successful people get sales call aversion. Because it’s emotionally connected and it’s fear based. The more you run from it, the worse it gets. I’ve had sales call aversion and I used the system I laid out in the book: Taking stock and looking at my skills and abilities. I looked at what I was doing and my goals. I couldn’t market my way completely to the revenue and net profit I wanted. There is a fallacy in the real estate industry that you can market your way to the top of this business. I’m not anti-marketing, I’m saying there’s a balance and a blending that needs to be happening between marketing and prospecting.

What would your case be for the success people could find in telephone prospecting today?

ZELLER: At a minimum, they have to telephone prospect their past clients and sphere. They can’t just rely on direct mail pieces to create the relationships they need and the referrals they’re hoping to generate from past clients and sphere. Beyond the past clients and sphere, I think Agents have to have a broader breadth of their business in today’s marketplace. The Agents who are relying 100 percent of past clients and sphere to generate their business are seeing a drop in their business. There are fewer referrals than before. Fewer people are moving. Real estate is no longer the No. 1 discussion at every cocktail party across the country, or at business networking events.

So the question is: What are you going to do? Last year 43 percent of the business was referral, 11 percent of the business was repeat, which means 46 percent was up for grabs. Can you run an effective business and not access 46 percent of the potential customers? Too many agents think it won’t work. But if you follow what I laid out in the book, it will.

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2009/02/author_chat_with_dirk_zeller_o.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2009/02/author_chat_with_dirk_zeller_o.html Thu, 05 Feb 2009 10:13:37 -0500 By Erica Christoffer

Quick skim
The telephone continues to be an integral part of a sales professional’s business. It is often the first point of contact with clients—so you need to know how to make a good impression. Can you get your point across and grab a person’s attention in seven seconds? Author Dirk Zeller outlines a strategic system in his book Telephone Sales for Dummies (For Dummies, 2007) on how to enhance your sales phone skills. He covers everything from rehearsing dialogue and conducting pre-call research, to preparing for objections and overcoming sales call aversion.

           Buy This Book

From the Book: 5 Ways to Improve Your Telephone Presence

Here are just a few of Zeller's tips on bettering your phone presence.

1. Start asking questions. Well though-out questions are one of the best ways to achieve a successful sale. Questions produce greater understanding between you and your client. Find out your clients needs, expectations and reservations. It will help you come to solutions and customize your sales presentation to each of your clients. Even if you don’t land the sale, you'll learn where to make improvements by asking questions.

2. Practice, practice, practice. Know what you’re going to say before you make that phone call and rehearse it. Have an opening script prepared and in front of you. The window of opportunity to get your message across while prospecting is small. Don’t open with the traditional, “How are you today?” Be genuine, says Zeller. Get to the point of why you’re calling and give them a reason to stay on the phone with you.

3. Do some pre-call research. Prospecting takes careful studying beforehand. You have to know your market. Doing research will help in answering questions and problem solving. Plus, it

4. Be an active listener. If you want to turn your prospects into clients, you need to hear what they need. Consider taking notes. By jotting down key points, concerns and questions that the prospect has, you'll be able to stay on point. Ask them to elaborate if you don’t understand something they said.

5. Set goals. Develop and follow a prospecting plan and make it part of your daily routine. If you say you’re going to contact 20 prospects today, then do it. Set aside time to do research and rehearse the script. A daily plan builds good prospecting habits and fights off distractions.

Sneak Peak

“What exactly is a sales objection and how can you clearly identify one? When a prospect says, ‘I want to think it over,’ or ‘the other supplier will do it for less,’ or ‘you’re too inexperienced,’ you have just heard an objection. But instead of seeing an objection as a rejection or a ‘no,’ understand it for what it really is: A request for more information, an appeal for the knowledge to justify to the prospect that buying your product or service is the right thing to do, and an opportunity for you to offer clarification regarding the details the prospect is questioning.”

About the Author

Drawing on more than 20 years of real estate experience, Dirk Zeller has published more than 300 articles and six books. His first For Dummies book, Real Estate Agent For Dummies was published in 2006. He is the president, CEO and founder of both Sales Champions and Real Estate Champions, which provides coaching and training to professionals worldwide. Zeller is recognized as an industry leader and sought-after speaker. His workshops outline business-improving strategies for real estate agents and sales professionals.

1. The Tipping Point: How Little Things Can Make a Big Difference, By Malcolm Gladwell

2. Jeffrey Gitomer's Little Teal Book of Trust: How to Earn It, Grow It, and Keep It to Become a Trusted Advisor in Sales, Business and Life, By Jeffrey Gitomer

3. Predictably Irrational: The Hidden Forces That Shape Our Decisions, By Dan Ariely

4. Influence: The Psychology of Persuasion, By Robert B. Cialdini

5. The New Rules of Marketing and PR: How to Use News Releases, Blogs, Podcasting, Viral Marketing and Online Media to Reach Buyers Directly, By David Meerman Scott

6. Principles of Marketing (12th Edition), By Philip Kotler and Gary Armstrong

7. Marketing Management (13th Edition), By Philip Kotler and Kevin Keller

8. Nudge: Improving Decisions About Health, Wealth, and Happiness, By Richard H. Thaler and Cass R. Sunstein

9. MKTG 2.0, 2008 - 2009 Student Edition, By Charles W. Lamb, Joseph F. Hair and Carl McDaniel

10. Yes!: 50 Scientifically Proven Ways to Be Persuasive, By Noah J. Goldstein, Steve J. Martin and Robert B. Cialdini

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2009/01/top_10_sales_marketing_books_j.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2009/01/top_10_sales_marketing_books_j.html Mon, 12 Jan 2009 10:52:33 -0500 By Erica Christoffer

The Weekly Book Scan talked to author Jennifer Allan about her new book, Sell With Soul, which was featured last week on the blog (read a mini review).

What does "selling with soul" mean?

ALLAN: What "sell with soul" means to me is two things. First, be yourself and trust your gut and your intuition. Create a real estate career around who you are as opposed to what someone else tells you who you need to be. The other thing "sell with soul" means to me is somewhat along the lines of the golden rule —that you’re competent at what you do and if someone hires you, you do a great job for them.

What led to you write this book?

ALLAN: Back in 2003, a girlfriend of mine just started working at a real estate company and she called me in tears. She said: “I don’t know what I’m doing. These people are teaching me to prospect, they’re teaching me to cold call, but I don’t know what to do with this business when it comes in.” And then she said, “You know, Jennifer, you should write a book about how to actually be a good real estate agent.”

I thought it sounded fun so I just sat down and started writing. I never intended it to be part of my career. I was selling real estate and making a whole bunch of money doing it. But my goal was to write a book teaching real estate agents how to be competent real estate agents, as opposed to competent prospectors.

What are the biggest mistakes you think REALTORS® make in their careers?

ALLAN: The biggest mistake I think REALTORS® make—and this is a big focus of my book— is they forget who they are. They try to implement methods and strategies that don’t ring true to them, that feel kind of icky, but their trainers and their coaches and the books they read convince them that this is what they have to do to succeed. They get up every morning dreading their job.

A lot of agents go at this part time in the beginning and I understand why they do that. But

The other mistake today is being underfunded, meaning going into this career without a nest egg. I train new agents at my office and if they don’t have a nest egg, within a month, they’re desperate and they’re going to quit.

Instead of jumping into real estate part time, go get another career for a year and save up that nest egg. If you’re going to work two jobs, why not make that second one that actually pays. Then save up for your dream of being a real estate agent, then you can hit it full time when you’re actually ready.

What are some mistakes in your career you’ve learned from?

ALLAN: Putting your paycheck ahead of your client. In those situations where you probably could push your clients to do something that will benefit you, it’s very tempting to do that. But what I’ve learned is pushing people to do something is not the best method.

The more you support your clients’ decisions and their intelligence and the more you respect them, the more likely they are to make the right decision. That decision might negatively affect your paycheck, but you need to realize this is a long term career and it really doesn’t do you any good to push someone to a closing if it’s not the right thing for them.

Have you needed to adjust your technique at all in this market?

ALLAN: The vast majority of my business has come in from my sphere of influence – the people I know and the people I meet. I’ve never done any traditional, formal prospecting. But there isn’t enough business right now.

What I’ve found is I need to adjust my expectations to what a successful year is going to be; it’s not the same as it was five years ago. We’re all going to have to adjust our lifestyles to get through this. We can’t manufacture buyers, we can’t help sellers create more equity; it is what it is.

Personally, I need to get into the world more often. I need to get my antenna up and speak intelligently about real estate when the opportunity arises. Agents should approach this industry less as a numbers game and more as one-on-one time. Take this time to build a pipeline of people who really think you’re great.

What are some tips you can give to help people looking to get out there with their “antennas up?”

ALLAN: The biggest thing if you’re going to do a sphere of influence model is to never ask for business and referrals. Get rid of all the “I love referrals” nonsense. I’m adamantly opposed to that practice. I think it makes you appear desperate and it puts your friends on the spot. Your friends will support your real estate business if they think you’re the best man for the job. If your friends think you’re a cheesy sales person, they’re not going to support you.

You need to be referral-worthy. The secret to a successful sphere of business model is to be a great real estate agent who loves her job and knows her market and stay in touch with the people she knows. Never ever pester them for business and referrals.

Tell me about your writing career.

ALLAN: Sell with Soul was my first book. It took me about a year to write it. I’ve written six other E-books and several of them are in the process of being turned into continuing education courses. I’m also an industry blogger. I contribute to several real estate newsletters. And, I do speaking, training and consulting.

I write very much how I speak. So this book doesn’t read like a typical how-to book. I’m not really instructing people, I’m chatting with them for 13 to 14 chapters. It’s very autobiographical. There are 60-some anecdotes in there that are very true from my career. My goal was not to tell everyone how wonderful I was and how I did everything right. It was to say, “OK, I really messed this up; here’s what I learned from that.”

What motivates you?

ALLAN: What I love about this career is what I’ve always loved about it; it’s the opportunity to creatively solve problems. I don’t get any particular thrill out of prospecting. I love the day-to-day process of selling real estate. As I’ve been doing it longer and I get better at it, the problems to solve get more difficult and more complicated, and I love the satisfaction of solving those problems and getting through that.

Quick skim

If cold calling, door knocking, and spending oodles of money on marketing don’t sound like your cup of tea, don’t sweat it, you can still flourish in the real estate business. Author Jennifer Allan will show you how in her book Sell with Soul (BlueGreen Books, 2008). No longer do you have to tarnish your principles to prospect. Challenging the industry’s status quo, Allan offers fun and easy tips on how to generate business and referrals with respect. Allan uses examples from her own career, while outlining the value of a hard and thorough work ethic to achieve success.

                    Buy the Book

From the Book: 5 Ways to Generate More Business Leads

1. Take your friends to lunch. Keep in touch with people in your social network by taking one person to lunch each week. Don’t make it an infomercial about your business. Instead use the time as an opportunity to catch up. After all, relationships are key. Next time someone at your friend’s office says they're looking for a REALTOR®, you’ll be the first to pop into mind.

2. Know your market. Look at houses, preview as much as you can, and put together practice market analysis reports. Be the expert your clients expect you to be, plus some. Knowledge and professionalism are impressive traits. Plus, your clients will trust you more when you know what you’re talking about. Allan’s mantra: “Competence gives you confidence.”

3. Spruce up the follow-up. Return calls and e-mails as quickly as possible — even if it’s to say you’ll call them back later. As a service provider, you should make yourself available and

4. Take responsibility for your mistakes. In her early real estate days, Allan once forgot to present a client with the seller’s property disclosure. This cost her the removal of one very large dead tree, right out of her own pocketbook. The silver lining was her client became so impressed with her honesty and willingness to make the situation right, he continues to refer business to her today.

5. Consider blogging. Can you string a few sentences together? Good. Consider blogging about your experiences, your local market, or just everyday events. If you’re interesting and consistent, the readers will come — and so will the prospects.

Sneak Peak

“As a professional real estate agent, you will be well paid for your services, and your clients expect you to be competent at your job, not just competent at prospecting. Your paying clients don’t care if you have 10 listings or two, if you have five upcoming closings or none. They do care deeply that you understand the real estate market, that you’re a good negotiator and that you know how to look after them and their needs.”

About the Author

Allan got her start in the real estate business in 1996 and quickly found success with her thorough yet-laid-back nature. In Sell with Soul, which came out this year, she shows the benefits that knowledge, hard work and support can bring. A Denver native and prolific blogger, Allan encourages her peers to be true to themselves and true to their clients with her own style of lucrative business-generating ideas.

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/12/book_review_sell_with_soul.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/12/book_review_sell_with_soul.html Thu, 18 Dec 2008 16:44:36 -0500 The Weekly Book Scan caught up with real estate pro and author Bente Gallagher (a.k.a. Jennie Bentley) to talk about her new novel, Fatal Fixer-Upper (Berkley Prime Crime, 2008), a do-it-yourself mystery centered around a renovation project. The book follows New Yorker Avery Baker, who inherits her aunt's 1870s Victorian cottage in Waterfield, Maine. While she sets out to learn all about home renovation, she unravels family secrets with historical ties and clues to a missing professor in the area.

Buy the Book

Bentley used her experience as a renovator and real estate professional in Nashville, Tenn., to write the fiction book, which is her first published novel. In November, the book was No. 11 on the Barnes & Noble bestseller list for paperback novels.

Bentley is willing to respond to any of your questions, so after you read the Q&A, be free to post a comment or question for her below.

Where did you get the idea for the novel?

BENTLEY: I had first written an unpublished book Cut Throat Business about a real estate agent when I was a new agent myself. Whenever I walked into empty houses, my vivid imagination would start going wild. I would open the door to an empty house – and I realized that anything could be in there—you never know what you were walking into. So for that book, I made it about a real estate agent who stumbles over a dead body in an empty house.

My agent started sending it around to publishers and it made it to Penguin. They liked it but they didn't think a real estate topic would work for them. Their books are usually focused on crafts, hobbies, and activities.

Because of my bio as a real estate agent and renovator, they asked me to write a mystery series about a home renovator.

The main character in Fatal Fixer-Upper is renovating a 19th Century Victorian cottage and is often at odds with her handyman on the design. She wants to add contemporary touches and he wants to preserve the heritage of the home. Is that based on what you often see in real-life renovation projects?

BENTLEY: It actually it is. My husband and I have renovated eight or nine houses over the last few years. We love the old finishes and how homes were built back then. We've always tried to be very sensitive to that, and keep the original as much as we can in homes. So often the house may look old on the outside but then when you walk into it, it's been gutted to the suds and everything is new. That's strange. If someone wants contemporary, they can go buy one.

You always have to have conflict in a book so having these two at odds about how they want to renovate I thought would be amusing.

You even included renovation tips at the end of the book as an extra.

BENTLEY: The publisher often has tips at the end of their books on how to do various things mentioned in the book. Readers like to try out what the characters are doing.

So I made a list of five different crafts from the book and the publisher selected a few. In the book, it has tips on how to create a mosaic tabletop or countertop, and using lace to create

Do you use your publishing success as a marketing tool in your real estate business?

BENTLEY: I talk about it on our Web site [Bentley, whose real name is Bente Gallagher, works with her husband, Michael Patrick Gallagher, also a REALTOR®], and we'll do some cross promotion. In our newsletters to our sphere of influence, we have real estate news and we'll include book news too.

But other than that, I'm not really promoting the book and real estate together. It ties in a little and gives me a little legitimacy as a writer — being a real estate and renovator makes me sound like I know what I’m talking about so I mention it when I do interviews and when marketing the book.

How long did it take you to write?

BENTLEY: I received a three book contract for 18 months so I have six months to write each book. So this book took me about four months to write, but it takes about six months then to go through the process from rewrites to deciding the cover, back page, etc.

This first book in the series I wrote last year around this time and it came out this November. The second book in the series will be coming out in August, and I've already started on the third book.

What are the other two books in the series going to be about?

BENTLEY: Avery and Derek, the two main characters in the first book, will be working on renovating more properties together. They'll be renovating a haunted house, a mid-century ranch in Waterfield, Maine. They'll find a skeleton in the crawlspace and when they lift the floor up, they'll find bones and another mystery will evolve around this.

In the third book, Avery and Derek then will renovate their friend Kate's old carriage house into a romantic retreat. They won't buy a new house to renovate in the third book because they need to sell the house from the second book first. They aren't overly rich people and they wouldn't be able to sell it that quickly. You have to inject some reality into it.

Each book will focus on a new house and one particular room for the crafts in each book. So in the first book, the kitchen was the main focus, and in the second it will be the bathroom, and the third book will focus on a romantic bedroom. There will be four or five tips at the end of the book again for renovating these rooms. For example, in the second book, I have projects for turning furniture into a chest of drawers for a sink base.

Did you always set out to become a novelist?

BENTLEY: It was always a dream, but I didn't think I'd be able to do it. I didn't take it seriously as a career choice. Writers are special people – they're my heroes.

Three years ago I met a woman who just moved here to Nashville and her book was about to come out. She was so normal – and I thought maybe if she could do it, I could too. She took me under her wing and showed me how to get a book published, and how to get it placed with an agent and then a publisher. Until I met her, I never thought it was something I could actually do.

Keller is the founder of Keller Williams Realty International, and Jenks serves as vice president of Research and Development at Keller Williams.

You can download the Shift podcasts through your iTunes account by going to the iTunes store and searching for "Gary Keller" under the podcast tab in the business category.

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/12/shift_podcasts.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/12/shift_podcasts.html Mon, 01 Dec 2008 10:47:33 -0500 Some properties are being advertised as a short sale when they really aren't in an attempt to lure bargain-hunter buyers. A new book,Foreclosures, Short Sales, REOs, and Auctions: Tools for Success in Today’s Real Estate Market, published by Dearborn, provides guidelines for using the term correctly. Here's an exclusive excerpt:

There are a number of licensees who are attempting to attract buyers by using the term short sale in marketing property. It is very similar to the furniture stores that are constantly advertising that they are going out of business to draw purchasers. The fact that a home has lost value or that the loan has increased in amount and is now more than the value of the property does not automatically make the transaction a short sale.

It's important that a licensee conduct a thorough analysis, not only of the property value and loans but of the prospective seller’s financial condition as well. As was indicated, according to some licensees who are experts in the field, only a small percentage of short sales are approved by lenders.

What is to be gained by these licensees who advertise properties as short sales when they really aren’t? The answer is attracting more buyers, of course.

Some licensees are describing properties as preforeclosure listing or short sale and use the terms synonymously. Appropriately, a preforeclosure sale of property would involve one where the owner is in default. The property may or may not be worth less than the loan amount.

On the other hand there are owners who are not in default attempting to sell a property for less than the amount of the loan who appropriately call the transaction a short sale.

Is it a short sale if the lender has not approved a sale? How can a lender approve a transaction without having an offer from a buyer? What can be done about these situations? It may be as

In May 2008 the NATIONAL ASSOCIATION OF REALTORS® approved new model rules that would allow a real estate practitioner to alert fellow licensees to potential short sales and notify them that it is possible the lender could require a reduction in the gross commission and that the cooperating broker would share in the reduction of the commission received. Each MLS may decide whether or not to require their participants to make a disclosure if it is reasonably likely there could be a short sale.

It is common in short sales for the lender who is considering discounting the loan amount to seek others who are willing to sacrifice as well, including the real estate broker who has the short sale listing.

The question becomes, when the listing broker chooses to reduce his or her commission, is he or she still obligated to pay a cooperating broker the commission published in the MLS? Too often, this issue is left unresolved and harsh feelings develop as a result.

While the model rules do not make it a requirement of submitting a listing to a multiple listing service, it would be considered good practice to place a conditional offer of compensation to cooperating brokers in the “Remarks” section of the property information sheet that clarifies what the agreement with the listing broker is going to be.

Such an agreement could be: “Both the sale of the property and the gross commission payable is subject to lender approval.”

What would put the cooperating broker on notice that his or her commission is truly subject to the lender’s discretion would be the additional agreement: “Any reduction in total compensation by the lender is to be split 50/50 between listing and selling agents.”

Of course the percentage amount of the split is totally at the discretion of the listing broker. The important thing is that the cooperating broker is put on notice up front and if the terms of the agreement are not satisfactory to them they may not show the property.

In the absence of such phraseology in the MLS a diligent agent will want to call the listing agent and clarify exactly what the agreement is before performing actions. No one is required to work for free. If a cooperating broker should choose to show a property whose commission is unclear at best, or is unhappy with any offered commission, he or she could insure the desired compensation by using a buyer’s broker agreement.

This textbook is currently used across the country in continuing education classes for real estate agents and mortgage bankers. Please note that this book can be purchased through RECampus for professional development purposes; however, it cannot be purchased through RECampus for continuing education credit. Visit the Dearborn Education site to purchase the book.

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/11/excerpt_misusing_the_term_shor.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/11/excerpt_misusing_the_term_shor.html Book Excerpts Thu, 20 Nov 2008 12:04:51 -0500 The National Association of Real Estate Editors announced three winners, along with a first-time author award, for top real estate books this year for the 2008 Robert Bruss Real Estate Book Awards. Check out the list of winners and then share with us the best real estate book you've read this year.

Gold Award
Prefabulous: The House of Your Dreams Delivered Fresh From the Factory (Taunton Press)
By Sheri Koones
Buy the Book

Judges comments: "It explores in depth the different types of prefab homes available on the market. The amount of information is stunning, making this book a necessity for anyone who is considering building this type of house.”

Silver Award
Creating Value: Smart Development and Green Design (Urban Land Insitute)
By Vernon Swaback
Buy the Book

Judges comments: "With interest in a 'green' environment rapidly receiving more and more attention, this book by a well-known architect is must reading for anyone interested in real estate development. Thoroughly researched and making good use of four-color photographs and

Judges comments: "This book about Gerald D. Hines and his real estate company stands out because it is written by twelve experienced essayists who have an expertise in architecture and/or business. Thus, they are able to bring a historical insight to their subject that helps readers appreciate Hines' significance.”

NAREE's First-time Author Award
Generational Housing: Myth or Mastery (TABS)
By Carmen Multhauf and Lloyd G. Multhauf
Buy the Book

Judges comments: "By examining and analyzing the different generations in the housing market, the authors show understanding home buyers is far more complicated than it appears at first.”

]]> http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/11/post_1.html http://narblog1.realtors.org/mvtype/theweeklybookscan/2008/11/post_1.html Wed, 19 Nov 2008 13:55:04 -0500

The following is excerpted from Financial Shock: A 360-degree Look at the Subprime Mortgage Implosion and How to Avoid the Next Financial Crisis (Pearson Education, 2009) by Mark Zandi, chief economist and cofounder of Moody's Economy.com. Here are four policy changes Zandi recommends to prevent the next financial crisis. Read all 10 in his book.

Buy the Book

Policy Step #1: Adopt a voluntary mortgage write-down plan

Many troubled mortgages could be salvaged if lenders would agree to modify them, typically by reducing the principal owed. The borrower would get to stay in the house, the lender would avoid a costly foreclosure, and the economy might avoid falling into a destructive self-reinforcing cycle in which house price declines beget foreclosures which beget still more price declines. Thus it seems both reasonable and urgent to encourage this wherever possible.

While there is no silver policy bullet that will address this problem, a number of proposals have circulated that could help. Most involve a small commitment of taxpayer dollars.(1)

Passage of an effective mortgage write-down plan faces several hurdles, including reasonable concerns that it would end up helping those who least deserve it. Lenders who faithfully observed sound underwriting methods would not benefit; nor would those homeowners who are working hard to keep their mortgages current despite financial strains.

The counter-argument is that the housing problem is so serious that it threatens the honest and

Although there is no guarantee that such a plan will be adequate to the problem, it is worth the effort.

Policy Step #2: Establish clear mortgage lending rules

A number of steps have been proposed that could prevent a repeat of the housing meltdown once the current crisis is past. Most notable would be the Federal Reserve’s adoption of clear guidelines for appropriate mortgage lending: Under the Fed’s proposed rules, lenders must consider the borrower’s ability to repay and also verify the borrower’s income and assets. Prepayment penalties are barred if a homeowner refinances within 60 days after an adjustable loan reset, and borrowers must establish escrow accounts for taxes and insurance.

These commonsense lending rules would apply to all mortgage lenders given the Fed’s broad authority.(2)

Policy Step #3: License mortgage brokers

There is widespread agreement that all mortgage brokers must be licensed. Unregistered brokers were among the most unscrupulous lenders during the housing boom. State banking regulators are working to set tougher standards for brokers by requiring applicants to pass proficiency tests and to be fingerprinted by the FBI.

State regulators have also launched a nationwide lender information system: an Internet database with pending enforcement actions and background data for all licensed mortgage brokers and lenders.

Policy Step #4: Expand data collection

A lack of timely and accurate information hobbled policymakers’ ability to respond to the subprime financial shock. Data on mortgage delinquencies and defaults comes from a variety of mostly private sources, making it nearly impossible for regulators or others to see the crisis as it grew. No government agency tracks the number of mortgage foreclosures, for example, and the various private sources of such information are limited in various ways.

A ready mechanism for expanding the government’s data collection already exists under the data collection efforts required by the Home Mortgage Disclosure Act. HMDA requires most mortgage originators to report some information on all loan applications and approvals. This includes data on the lender, location, income, and ethnicity
of the borrower, whether the loan is a first or second lien, whether it is a purchase loan or refinancing, as well as the loan’s amount and its interest rate.

Reporting requirements should be expanded to include mortgage servicers, who in most cases are also the lenders already reporting under HMDA. Servicers can provide information on delinquencies and defaults as well as on whether various types of loans and borrowers are having credit problems. Reporting under HMDA should be more frequent—it currently occurs annually—and data releases should be accelerated.

The HMDA data for 2006 wasn’t fully released until the Fall of 2007. More frequent updates and more rapid reporting would help policymakers and lenders spot credit quality problems earlier and allow them to respond better to developing problems.

Endnotes:
(1) Most notable include the plan cosponsored by Congressman Barney Frank and Senator Christopher Dodd described in Chapter 13 (see inancialservices.house.gov/FHA.html). FDIC Chairwoman Sheila Bair has also proposed a write-down plan (see www.fdic.gov/consumers/loans/hop). Zandi has also put forward a proposal (see www.economy.com/mark-zandi/documents/Home-Appreciation-Mortgage-Plan.pdf)
(2) As discussed in Chapter 10, the Federal Reserve was granted this authority under HOEPA.